Thursday, March 18, 2010

20100318 1310 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1308.5, changed : +1.5 point, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : reversed higher, both buyer and seller trying to gain control.
Support : 1307, 1300, 1295, 1290 level.
Resistant : 1315, 1325, 1335 level.
Comment :
Range trading market FKLI ended the morning session a little higher with lesser volume seems facing difficulties to decide which direction to go as not significant interest shown from both buyer and seller. Seems like the side way range bound market will stay a little longer as suggested on the hourly chart reading.

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